U.S. Energy Information Administration - EIA - Independent Statistics and Analysis

Press Room

U.S. ENERGY INFORMATION ADMINISTRATION
WASHINGTON DC 20585

FOR IMMEDIATE RELEASE
June 16, 2011

EIA launches web-based information and assessment of what drives crude oil prices

As part of its Energy and Financial Markets Initiative, the U.S. Energy Information Administration (EIA) released today a web-based assessment of key factors that can influence oil markets. Energy and Financial Markets: What Drives Crude Oil Prices? covers the period from 2000 to the present and includes forecasts through 2012 from EIA's Short-Term Energy Outlook.

"EIA's traditional coverage of physical fundamentals such as energy consumption, production, inventories, spare capacity and geopolitical risks continues to be essential," said EIA Administrator Richard Newell. "This new work builds on that foundation, and adds information and assessments of other influences, such as futures market trading activity, commodity investment, exchange rates, and equity markets as EIA seeks to fully examine energy price movements."

Chart data in the new web-based product will be updated monthly and quarterly. Each section of the product also includes a feedback form inviting users to email EIA their comments and insights.

Energy and Financial Markets: What Drives Crude Oil Prices? can be found at: http://www.eia.gov/finance/markets

The product described in this press release was prepared by the U.S. Energy Information Administration (EIA), the statistical and analytical agency within the U.S. Department of Energy. By law, EIA's data, analysis, and forecasts are independent of approval by any other officer or employee of the United States Government. The views in the product and press release therefore should not be construed as representing those of the Department of Energy or other Federal agencies.

EIA Program Contact: Bruce Bawks, 202-586-6579, Bruce.Bawks@eia.gov

EIA Press Contact: Jonathan Cogan, 202-586-8719, Jonathan.Cogan@eia.gov

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